Stanley Black & Decker (NYSE:SWK) Announces Earnings Results, Beats Estimates By $0.25 EPS

Stanley Black & Decker (NYSE:SWK) announced its earnings results on Tuesday. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.25, Briefing.com reports. Stanley Black & Decker had a negative net margin of 0.66% and a positive return on equity of 3.95%. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. Stanley Black & Decker’s revenue was down 3.2% compared to the same quarter last year. Stanley Black & Decker updated its FY 2024 guidance to 3.700-4.500 EPS.

Stanley Black & Decker Price Performance

NYSE SWK traded down $0.26 on Wednesday, hitting $105.79. 563,043 shares of the company were exchanged, compared to its average volume of 1,447,724. The firm has a 50 day moving average of $85.33 and a two-hundred day moving average of $89.16. The company has a market cap of $16.28 billion, a P/E ratio of -153.69, a P/E/G ratio of 2.69 and a beta of 1.25. The company has a current ratio of 1.09, a quick ratio of 0.40 and a debt-to-equity ratio of 0.63. Stanley Black & Decker has a 1-year low of $76.26 and a 1-year high of $107.06.

Stanley Black & Decker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.82 per share. This is an increase from Stanley Black & Decker’s previous quarterly dividend of $0.81. The ex-dividend date is Tuesday, September 3rd. This represents a $3.28 annualized dividend and a yield of 3.10%. Stanley Black & Decker’s dividend payout ratio is -469.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SWK shares. Wells Fargo & Company decreased their price target on shares of Stanley Black & Decker from $92.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Barclays downgraded shares of Stanley Black & Decker from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $100.00 to $86.00 in a research note on Tuesday, June 4th. Finally, Robert W. Baird lifted their price target on shares of Stanley Black & Decker from $78.00 to $80.00 in a research note on Monday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Stanley Black & Decker currently has a consensus rating of “Hold” and an average target price of $94.67.

Insider Buying and Selling

In other Stanley Black & Decker news, SVP Janet Link sold 3,442 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $86.80, for a total transaction of $298,765.60. Following the completion of the sale, the senior vice president now directly owns 32,860 shares of the company’s stock, valued at approximately $2,852,248. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by corporate insiders.

Stanley Black & Decker Company Profile

Stanley Black & Decker, Inc provides hand tools, power tools, outdoor products, and related accessories in the United States, Canada, Other Americas, Europe, and Asia. Its Tools & Outdoor segment offers professional grade corded and cordless electric power tools and equipment, including drills, impact wrenches and drivers, grinders, saws, routers, and sanders; pneumatic tools and fasteners, such as nail guns, nails, staplers and staples, and concrete and masonry anchors; corded and cordless electric power tools; hand-held vacuums, paint tools, and cleaning appliances; leveling and layout tools, planes, hammers, demolition tools, clamps, vises, knives, saws, chisels, and industrial and automotive tools; drill, screwdriver, router bits, abrasives, saw blades, and threading products; tool boxes, sawhorses, medical cabinets, and engineered storage solutions; and electric and gas-powered lawn and garden products.